Even as we climbed out of world recession, the warning is that the strength of the recovery continued to be uncertain. Although the contraction in business activities appears to be stabilizing, the business outlook remains uncertain.

In tough times, we need to be strong as a group, in order to draw inspiration from one another that account for our individual company success.

Asia is said to be the next growth story, but the high savings culture is set to slow down any big jump in consumer spending. Operating environment continues to be challenging due to keen competition and pricing pressure. So, cargo volume will continue to be affected. We, in the NVOCC freight business have a lot weighing down on us.

The outlook may not be rosy, but successful companies do not wait for things to get better. I'm sure many of us either changed ourselves or our strategies to fit the rapidly changing environment.

There is no magic formula for success. Simply hard work and the great effort of finding a winning formula. If we have to adapt, we adapt. If we have to change, we must change .We simply cannot do nothing about it!

I can assure you that C P World too do not wait for the tide to change. In fact we are using the current period to focus on developing our brand and strengthening our marketing efforts. We do not wait for the tide to turn to make our moves.

The economic weather may be cloudy now. But as we prepare for long-term growth we will thrive when the wind changes. C P World will keep building on our strengths.

It is no secret that behind every successful enterprise lays a unique set of capabilities - be it in process or services, branding or leadership development.

Gone are the days where service quality alone would secure customer loyalty. These days, service excellence is seen as a must to ensure repeat customers.

On behalf of C P World Group, I would like to take this opportunity to commend our management and staff for their dedication, hard work and contribution over the years. I would also like to express my deepest appreciation to our business partners and associate.

Last year, during the First C P World "Global" meeting in Dubai, I put forward the challenge of the theme, Together, Better, and Stronger. It started a chain of events, which resulted in the formation of new offices and the overwhelming agencies tie-up around the world.

I am glad to report that being Together has certainly got us Better and in the process allows us to be Stronger as a unit.

This year I would like to throw another challenge to my managers to ensure that freight will be handled in an effortless motion through working as a team as this year theme suggest, "Teamwork in Motion".

I continue to encourage that despite the demands made on us, we can and should find a common ground and work as a team to achieve our desired result.

I trust we will all come together, work harder and enjoy another exciting and happy year together